New York City, January 11, 2010 — Smart grid technology has gained notoriety as a solution to the electric power needs, but due to the daunting size and complexity of the current electrical grid, it will take utilities years to transform the grid into any semblance of a smart grid.
A new market study from SBI Energy, Smart Grid Micro Grid Energy T&D and Storage, projects that the timely and cost-effective microgrid will pave the way to full smart grid integration faster than utilities alone.
Forecasted to grow 13 percent during the 2009 to 2014 period, the market for microgrids will near $7 billion by 2014 supported by implementation at large industrial operations, military bases and communities where electricity is unstable or non-existent.
By design, the microgrid comprises all the same components of a larger grid and thus, stimulus funds that have been provided by the American Recovery and Reinvestment Act of 2009 specifically for smart grid development will simultaneously benefit microgrids.
According to SBI Energy, microgrids will become the incubator and operational test bed for innovative smart grid solutions and vendors since it is less difficult and costly to deploy smart technologies.
Smart Grid Micro Grid Energy T&D and Storage presents an in-depth analysis of the development, applications, products, manufacturers, and trends in the advancement of transmission and distribution (T&D) system automation, energy storage, and microgrids in the United States and around the world.
The report provides a comprehensive assessment of all three of these areas, cost and regulatory concerns that have limited their growth, the potential opportunities for new applications (particularly for integrating intermittent renewable energy sources into the grid), and an assessment of developing technologies that make the grid “smart.”
Projected growth through 2014 for these areas is provided, including discussion of energy demand, environmental impacts, economic conditions, consumer acceptance, stakeholder concerns, and government activities as they affect growth rates.
The report also profiles manufacturers and marketers of technologies in these areas and the strategies they have adopted to maximize growth and profitability.